Lululemon Athletica (NASDAQ:LULU) Shares Gap Down on Analyst Downgrade

Lululemon Athletica Inc. (NASDAQ:LULU)’s share price gapped down before the market opened on Friday after BTIG Research lowered their price target on the stock from $470.00 to $420.00. The stock had previously closed at $341.53, but opened at $301.05. BTIG Research currently has a buy rating on the stock. Lululemon Athletica shares last traded at $287.81, with a volume of 4,253,418 shares.

Other equities analysts have also recently issued reports about the stock. Bank of America reduced their price objective on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a research report on Friday. Citigroup dropped their price objective on Lululemon Athletica from $380.00 to $330.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Piper Sandler reduced their price target on shares of Lululemon Athletica from $340.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Stifel Nicolaus dropped their price target on Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $380.72.

Institutional Trading of Lululemon Athletica

Hedge funds and other institutional investors have recently bought and sold shares of the business. Beacon Capital Management LLC lifted its stake in Lululemon Athletica by 6.9% during the 4th quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer’s stock valued at $142,000 after acquiring an additional 24 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Lululemon Athletica by 0.7% during the 4th quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock worth $1,353,000 after acquiring an additional 25 shares during the period. SeaCrest Wealth Management LLC increased its stake in shares of Lululemon Athletica by 2.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock worth $389,000 after purchasing an additional 26 shares in the last quarter. Dnca Finance grew its stake in Lululemon Athletica by 15.1% in the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer’s stock valued at $76,000 after buying an additional 26 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Lululemon Athletica by 9.4% during the 4th quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer’s stock valued at $124,000 after purchasing an additional 28 shares during the period. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Down 14.2 %

The stock has a market capitalization of $35.69 billion, a P/E ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21. The company has a 50-day moving average price of $364.63 and a two-hundred day moving average price of $338.98.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping the consensus estimate of $5.85 by $0.29. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.29 earnings per share. On average, sell-side analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

Lululemon Athletica Company Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.